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William Hill Profits Boosted By Online Betting

William Hill earnings improved by online betting

19 April 2013

said a strong efficiency in online wagering assisted to enhance its very first quarter running earnings by 8%.

More sporting bets were made online than in its wagering stores, with an increasing number placed through its mobile apps.

The business said, external that although it had a poor Cheltenham Festival, it had better luck in the Champions League.

It was the first time no English football team had been in the quarter finals since 1996.

As such, while the amount paid out to winning bets at the Cheltenham Festival was higher, the cash punters placed on English teams to progress to the Champions League quarter finals and beyond all entered into William Hill’s coffers.

The firm stated it had actually likewise enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.

“It has been a successful start to 2013 in trading terms”, said chief executive Ralph Topping.

“Having grown our UK online market share from 10% to 15% over the last 4 years, we aim to increase our share and are making considerable financial investments in marketing, innovation and people to accomplish that,” he added.

On Monday, competing bookie Ladbrokes cautioned that trading had been worse than expected in the very first three months of the year.

The company blamed a drop in benefit from the Cheltenham Festival and lower profits from high worth gamblers. It included that a high number of cancelled conferences, due to the fact that of the harsh winter, had actually likewise impacted its outcomes.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: “William Hill’s efficiency and potential customers remain in plain contrast to the problems presently being dealt with at Ladbrokes.

“There are, naturally, headwinds, such as the fierceness of competition in the sector and the typically pressed customer, but these are difficulties which the entire industry is facing,” he added.

Ladbrokes cautions on slower trading

15 April 2013